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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 08/05/2021, 23:59:02 UTC
in the Tax reports I know you can export trade data in Turbotax format. Does this include the income reports too (i.e. staking income, gifts, etc)? if not, how would I import this data into Turbotax if I had a lot of staking income transactions?
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 08/05/2021, 05:56:07 UTC
[...] the manual cost basis for unlisted tokens is not saved between backups or exports [...]

I only notice this on exports, but not on backups.
I.e. when I enter a custom cost basis (be it for listed or unlisted coins) and make a backup, then restoring from that backup also restores the cost basis.

I have a few transactions with custom values myself, so I made sure the backups restore those values.
But just to be safe I rechecked just now to confirm:
- Added a trade to buy 23 YYY (unlisted coin) for 42 USD
- Entered a custom YYY buy value of 8.15 USD
- Saved a backup
- Deleted all trades
- Restored from backup
-> Custom value of 8.15 USD was also restored.

thank you for confirming this!!!

for any lurkers, I fixed my issues by basically going tx by tx on etherscan and comparing the 'State' tab on each transaction with my logs. This is much clearer to reason about so I recommend this if anyone else has balance issues

and of course thanks Andreas for the solutions and timing answer. Re: your quote about the cutoff time being midnight, this is 00:00:00 in my internal timezone for CoinTracking.info, to confirm?
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 07/05/2021, 10:09:57 UTC
Sounds feasible how to add it. We recommend to consult a CPA here.

If you sell some NFT (as we assume NFTs are crypto currencies) and get another currency for it it is a normal trade. The asset value for the NFT is the asset value of the crypto currency you get.

We suggest to use trade/groups and comments for NFT name details and use abbreviations for the tickers.

You just need to add a current price and add the transaction manually if they are not imported via ETH/BSC API. See https://cointracking.freshdesk.com/a/solutions/articles/29000007203-entering-ico-coins-and-non-listed-assets/en

Thanks for the advice. I have another, unrelated question

I have a new wallet/exchange entry for this year and have been trading a ton in it. I am now noticing a discrepancy in one coin (ETH) for a total that I cannot find in any of my logs so this must be coming from some miscalculations across trades. Is there any way for me to easily debug this? It's really hard for me to narrow down, ideally i'd like to try importing from Etherscan but the blockchain import is automatic/api based and I DON'T want to import, I simply want to compare against what I have. Additionally Cointracking has no way to import from CSV on Etherscan.

What do you suggest I do to narrow this down? Really annoying to find .45 eth across 10+ moving ETH on one exchange with 200+ trades, I feel like I've looked at every single trade but everything looks right according to Etherscan and I've ensured fees are entered according to https://cointracking.freshdesk.com/en/support/solutions/articles/29000007202-entering-fees (in fact, my problem is that Cointracking is saying I have .45 ETH MORE than I actually have so I'm really unsure how this would even be possible)

Additionally I don't want to mess with backups or exports because I've noticed (and this is a big issue, please include this as a fix) the manual cost basis for unlisted tokens is not saved between backups or exports and as such my trades are completely messed up if i restore (since I then need to go back and readd every single cost basis for every tx with an unlisted token)

any advice? when this site works it's great but when there's a minor issue it's a huge pain to figure out what the problem is
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Board Service Announcements (Altcoins)
Merits 1 from 1 user
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 06/05/2021, 20:32:25 UTC
⭐ Merited by Ratimov (1)
how can I track ERC721/NFT transactions? This is becoming more and more important now that Uniswap has liquidity pool positions as NFTs rather than ERC-20 tokens

additionally, is there a way for me to import a custom coin with a contract address? would be much simpler for organization given NFTs and other new coins I am trading with that are not yet added on cointracking.info
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 11/04/2021, 07:54:15 UTC
how do I ensure staking a coin and then selling it has tax properly accounted for if the token doesn't exist in CoinTracking.info?

For example, I have been receiving staking income from Bao.cx on XDai chain (https://blockscout.com/xdai/mainnet/tokens/0xe0d0b1DBbCF3dd5CAc67edaf9243863Fd70745DA/token-transfers) and immediately sell it for BAO (which IS on CoinTracking.info, https://etherscan.io/token/0x374cb8c27130e2c9e04f44303f3c8351b9de61c1) which should yield a small amount of 'realized gains' (because of the cost basis of Bao.cx being close to 1:1 with BAO), but since CoinTracking.info doesn't have Bao.cx supported my realized gain is massive (i.e. the entire proceeds of my trade) which ends up inflating my tax bill

Is there a way to fix this, or does CoinTracking.info need to import/support Bao.cx for me to properly have this reflected in tax reports? Is there a way for me to set a cost basis price for each staking entry (since I have multiple over the course of a couple of weeks)?
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 03/04/2021, 23:19:40 UTC
are transaction fees not accounted for in the 'balance by exchange' view? why not?

example:
add deposit to 'Dummy Exchange' for 1 ETH
add transaction for 'Dummy Exchange', selling .95 ETH for 2000 USD with transaction fee of .05 ETH.
Balance by exchange will show .05 ETH and 2000 USD for 'Dummy Exchange'
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 20/03/2021, 19:45:52 UTC
I am trying to do my taxes via TurboTax and am importing my trades as TXF file but when I import them in TurboTax it says that every trade is missing the 'Sale Category' and requires I fill it myself which is a lot...

This post mentions the same issue from a year ago:  https://www.reddit.com/r/CoinTracking/comments/bd5l0u/cointracking_turbotax_cd_1099b_which_sale_category/

Is there anything I can do to get CoinTracking to fill this in for me in the file? It should have all the long and short info so idk why this is failing. Please help
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 18/02/2021, 02:09:50 UTC
New paid (expert) user to cointracking.  I attempted multiple times to just mass import everything and of course that did not end up going well.  i removed everything and now i have 1 exchange added to see if i can better understand the workings of the tracking software.  After some reading i decided not to include USD deposits/withdrawls, however im running into an issue.

added 1 exchange
originally i transferred money from my checking account into the exchange which was then used to purchase Ethereum.
the software is showing all my withdrawls of the ethereum to my hardware wallet as missing.  I'm assuming this is because it does not see a deposit of ethereum into the exchange wallet. Obviously this was because i used USD to buy the ethereum.

A little hard to explain but i hope someone understand what i'm trying to say here. my guess after some messing around is i have to change the withdrawls to transfers, i just want to make sure this wont mess up anything else.




what i do is:

don't show usd deposits or withdrawals at all
when withdrawing to a hardware wallet, make a deposit for the hardware wallet on the software too. the wallet will appear as the 'exchange' but things will be balanced better. don't forget to include fees: https://cointracking.freshdesk.com/en/support/solutions/articles/29000007202-entering-fees
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 12/02/2021, 01:03:06 UTC
is there a reason balance by exchange seems to not reflect fees on deposit?

Repro:

1. make a withdrawal for 1 ETH for exchange A with a fee of .01 ETH (so this should be a total of .99 ETH)
2. make a deposit for .99 ETH for exchange B with a fee of .01 ETH (so this should be a total of .98 ETH)
3. Go to 'balance by exchanges' and search for exchange B
4. See that exchange B shows a balance of .99 ETH instead of .98 ETH, implying the deposit fees are ignored entirely

Should I be entering this a different way, perhaps the issue is that the 'withdrawal' is taking .01 ETH from my total on exchange A rather than from the withdrawn amount? My repro looks like this:

https://imgur.com/a/BJp3ne0
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 08/02/2021, 22:45:08 UTC
site is currently down, 502 bad gateway errors, will update this post if fixed
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Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 07/02/2021, 13:04:07 UTC
feature request: Can you add an item to the dropdown for 'show 0 balances' to hide balances under a custom amount? for example, I would love to be able to hide all balances less than $10 USD.
 
Thanks!
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 25/01/2021, 17:23:31 UTC
Just noticed the themes changed and the dark theme is now blue! Is there any way we could get the old black theme (I think this is Classic but Dark/Black) as an option again? Much prefer black over blue, thanks!
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 23/01/2021, 00:20:50 UTC
The workaround is to add the transactions manually using the LP-token as outlined before.
As long as this token is not listed on any price source you need to add a custom price (see "non listed asset" FAQ).

If you add the fee correctly as described in the FAQ they are subtracted from the balance of course.

Thank you! I appreciate the prompt responses to my questions (despite there being a lot) and will be in touch again if any further questions come up. Thanks again, you rock!
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 22/01/2021, 13:07:16 UTC
@asdsvsdf

Yes UNISWAP has the ticker "UNI2".

We are working on a solution to import those transactions automatically. It depends on the API for the ETH chain.
For now you need to adjust those transactions manually as outlined before.

"Other Fee" is available as own transaction type.

The trade fees can be found here https://cointracking.info/fees.php - filter for "trade" and the year you need it.
And please check this FAQ for adding fees: https://cointracking.freshdesk.com/en/support/solutions/articles/29000007202-entering-fees

We would appreciate if you send us an E-Mail at support@cointracking.info or open a ticket with these information to check your account individually if needed.
to clarify, I'm not talking about the Uniswap token, I'm talking about the LP tokens provided by Uniswap when you provide liquidity (UNIV2)

I'll open a ticket, I think this is a critical issue (specifically support for liquidity pools) that needs to be added and may be something that pushes me to a competitor that does support this since otherwise I'm not sure I can be confident in my return going forward if cointracking.info doesn't directly support it and requires workarounds to make it work
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 22/01/2021, 10:15:38 UTC
Also, I think I just found a bug on the tax report system: when I generate a tax report for any year, the fees section will only include fees from withdrawal and deposits and doesn't include any trading fees. If I go to the trading fees page on cointracking.info I see this is tracked there properly, but why isn't this being included in the tax report fees section?
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 22/01/2021, 09:30:59 UTC
@Nerome
The easiest way would be to import ERC2x transactions via ETH API(https://cointracking.info/import/eth_address/). Please check if your CORE trade is imported here.
See this article as well: How to import DEX trades like Uniswap, 0x, Kyber Network, SushiSwap (https://cointracking.freshdesk.com/a/solutions/articles/29000036759?lang=en)
But if you do not own them then not sure why it should be a trade. Once a trade take place you own the coins.
Another idea would be to add those transactions at a separate "virtual" wallet with those trades. Possibly if it ends you get the ETH back which will be another trade
Then you can add the income as "staking" oder "interest income". They will appear in the income report as part of your tax report.
This FAQ could helps as well: Loans and their repayments (https://cointracking.freshdesk.com/a/solutions/articles/29000033408?lang=en)

And if you trade 2 currencies and receive 1 amount of LP Tokens and vise versa you can take 50% of the LP token amount and add it as counterpart currency for one of your currencies. And the other 50% for the other one which are part of the trade(s).

One thing that adds confusion here is that the LP tokens I mention share the same ticker (i.e. for Uniswap, the LP tokens are always UNIV2 even though they are not interchangeable between pairs, i.e. a USDC/ETH LP token and a WBTC/ETH LP token both appear as UNIV2 but can have wildly different values wrt proportion). Without cointracking.info directly supporting logic for liquidity pools I don't think it's actually possible to model this as it stands on the software and my taxes as a result won't make much sense... I think it's critical this support is directly added to cointracking.info or your team considers how this sort of thing would best fit into cointracking.info, otherwise I think this is the first situation I've run into in crypto where I think I need to start working directly with a tax consultant since this is starting to become much more complex than simple trades.

For example, when I import my ETH wallet using the tool you mentioned in your links, the liquidity pair transactions don't make sense (the coin is UNIV2 for both pool additions, but as mentioned they are technically different tokens representing different things). Additionally, adding to a liquidity pool renders as a set of deposits and withdrawals, which sort of makes sense, but it's unclear if this should be logged this way since when I eventually redeem the LP tokens for my capital it likely won't be in the same amounts but will be roughly the same value, +- interest and market fluctuations as a result of acting as an AMM (automated market maker).

Also, sidenote, but when I import my ETH wallet, it seems there's a type that isn't available otherwise: 'Other fees'. Can we add this as a selectable type? Right now if I manually add a trade to represent just spending on a fee I have to do it as a trade with 0 value on buy and sell because I don't have a direct way to add 'Other fees' as a trade type
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 19/01/2021, 19:50:41 UTC
@asdsvsd
This is described in this FAQ "How to import DEX trades like Uniswap, 0x, Kyber Network, SushiSwap" (https://cointracking.freshdesk.com/a/solutions/articles/29000036759?lang=en)


Thanks, looked at the guide but this doesn't actually cover the use case I mention

To explain further, on Uniswap you can submit two types of currency to the liquidity pool for that pair to get UNIV2 tokens representing that pair which can later be put back in the pool in exchange for a proportion of the pool's currencies, earning interest on each trade in that pair along the way. Since you don't 'lose' your underlying currency but do swap two currencies for one set of UNIV2 token it seems this use case isn't currently covered by cointracking.info at all. From what I can tell some competitors (namely Cointracker) seem to track this already

More info: https://uniswap.org/docs/v2/core-concepts/pools/
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Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
asdsvsdf
on 19/01/2021, 11:19:06 UTC
New imports
- Crex24
- Nexo
- Swyftx
- Iconomi
- BlockFi
- Bitcoin Suisse
- BitBox (Multi edition + Bitcoin-only edition)
- Bitcoin / Altcoin Core Wallets

Updates and Improvements
- Binance API update: Import of deliverable Futures, Binance Savings and Binance Earn Income transactions
- Kucoin API update: Bonuses, Incentives and similar transaction types are now imported
- Bybit CSV fix for withdrawals
- Crypto.com CSV update: import recurring purchases, skip internal transactions, and support for different date formats
- Bitpanda API update: withdrawals are now imported with the appropriate fee. Also fixed the import of commodities (gold, silver, etc)

- Video guides for 14 reports on the reporting overview page (more guides will follow soon)

Can you add support for tracking adding tokens to Uniswap liquidity pools? Not sure how to input this as it stands now. for example, I can submit ETH and USDC to Uniswap to add liquidity to their pool to collect fees, and doing this yields Uni-V2 tokens but not sure how to track this in cointracking.info

Would love a reply, thanks!